I am looking into buying an abandoned factory and warehouse soon. They're selling for good money, around $100,000 for the warehouse, and $145,000 for the factory. I did a walkthrough for both of them a while back and both are in fairly good shape. Some work needs to be done, but there's potential for a big profit. Has anyone ever purchased a factory/warehouse? If so, how was it when you renovated them?
How big are they though? For the price I'm imagining something small for both. If they're a good size and you can get them for a good price, I say go for it. Just make sure to get them inspected.
Warehouses in my area sell for as much as half a million. I believe the cheapest on the market within a 10 mile radius of my home is selling for over $200,000.
Warehouses tend to offer higher income, compared to residential real estate. The size of the property is bigger, and there are more tenants in the property. ... If you compare commercial properties with other investments like stock dividends, commercial property can offer higher returns.
We are in an era where expenses are rising, capital is depleting, stocks are not dependable, banks don’t pay enough on fixed deposits and every traditional option for investing seems hazy. However, with the rise in prices of everything, the prices of real estate also are on an all-time high. This opens up new and great opportunities for serious investors. Most commercial properties have always been a lucrative investment. But what is generic in this scenario is that investors opt for the pretty over the rusty. Everyone would not bat an eye to invest in a good shop space in a very good commercial building, but no one really ventures into or even thinks about rusty old warehouses.
I would have never thought to get into this but it does sound like you can make some huge bucks. I like to stick with what I know though. I wouldn't know the codes or regulations for something that large.